For the first quarter ended May 5, ALCO Stores, Inc., posted a net loss of $1.7 million, or 51 cents per diluted share, versus a net loss of $1.3 million, or 34 cents per diluted share, in last year’s period. Loss from continuing operations, net of tax, was $1.7 million, or 51 cents per diluted share, versus a loss of $1.1 million, or 29 cents per diluted share, for the year-ago period, the retailer reported.
Comparable store sales, excluding fuel centers, decreased 2.2% in the period year over year, ALCO noted. Net sales from continuing operations increased 0.9% to $117.5 million.
Richard Wilson, president and CEO, said in commenting on the results, “Operating results for the first quarter were negatively impacted by lingering winter weather conditions in many of our markets. More than 80% of our same-store sales performance came from outdoor businesses: Outdoor Living, Horticulture, Sporting Goods and Menswear. The decrease in these outdoor businesses was partially offset by favorable sales performance in Domestics, Housewares and Women’s Apparel where customers have responded favorably to the introduction of our new apparel lines. Although consumers remain cautious due to slow economic growth, we are encouraged by the positive impact our changes in merchandise are starting to have, and we are equally excited about the potential benefit of price optimization initiatives we are rolling out in fiscal 2014.”